June 20, 2005
Bad moon rising: Should home buyers & sellers start "Freaking out?"
First the serious news: The appearance of rogue economists Steven Levin and Stephen Dubner, coauthors of Freakonomics, on NBC's Today Show has sparked a controversy that has the National Association of Realtors firing back and offering their chief economist or association president to rebut allegations that Realtors work harder to get the highest price for their own properties, than they do for clients who they too often sell short.
Now the weird news, or should we say "Freaky?" NASA's web site says...
This week's full moon hangs lower in the sky than any full moon since June 1987, so the Moon Illusion is going to be extra strong."
Makes me wonder if there is a connection between
the Moon Illusion and housing prices. The last housing cycle peaked around 1987, marking a turning point which
saw prices slide through the early 1990's in many housing markets across the
So if home buyers and sellers are looking for a sign that the housing market has peaked, and the Boston Globe's recent series of headlines on foreclosures haven't already freaked them out, what do you bet that history will recognize this year's summer solstice as a celestial tipping point in hindsight?
Many people have heard about money-making Ponzi Schemes, invented here in Boston in 1919, but who would guess that was six years AFTER something called the Ponzo Illusion -- the phenomena behind the Moon Illusion -- was discovered? Both make things appear larger than they really are; in one case, the moon and in the other case, return on investments -- like real estate in today's market! Who would guess that real estate cycles are tied to cosmic events like decade-long lunar cycles? ;-) Freaky!
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No one should freak out, there is absolutely no reason to. Long term speaking I see the industry nothing but booming, especially here in California and there in New York.
Posted by: Real Estatet Forum and Blogs | Jun 25, 2005 5:33:20 AM
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